Regulation 11 Exemption from the requirement for money to be kept by the trusteesC1

where the trustees have entered into an arrangement or contract with a person to the effect that the money is to be paid into a F2an account held by that person; F3and separate from one held by or on behalf of the employer as employer and

where the trustees have F4an account.

amount of money paid into the account, the date of payment and from whom it was received;

amount of money paid out of the account, the date of withdrawal and to whom payment was made; and

interest earned on the account of each scheme in respect of which money is deposited.

the Bank of England F7...;

the National Savings Bank; or

a municipal bank.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

“municipal bank” means a company within the meaning of the Companies Act 1985—

the definition of “municipal bank” above must be read with—